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Uganda: Uganda, Tanzania Finalise Terms for Oil Drilling and Pipeline Project
VOA, 2 February 2022
Uganda and Tanzania signed a deal with Chinese and French oil companies this week finalizing terms of a $10 billion drilling and pipeline project. The project's backers say it will… Read more »
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Uganda: French, Chinese Oil Companies Sign Deal to Develop Oil Reserves Under Lake Albert
RFI, 1 February 2022
French and Chinese oil companies signed a ten-billion-dollar deal on Tuesday to develop oil resources under Lake Albert in Uganda and build a pipeline to bring the oil though… Read more »
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Tanzania: Uganda, Tanzania to See 60 Percent Increase in FDI Due to Oil - Psfu
Monitor, 27 October 2021
Private Sector Foundation of Uganda (PSFU) has said Uganda and Tanzania will see an increase of more than 60 per cent in Foreign Direct Investment just within the construction… Read more »
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Uganda: Oil Pipeline Company Starts Work Next Month
Monitor, 3 August 2021
The holding company to fast track development of the proposed East African Crude Oil Pipeline (EACOP) is expected to come into force by September while construction is scheduled to… Read more »
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Uganda: Uganda Seeks U.S.$130 Million for Pipeline Deal
East African, 31 March 2021
To fund its 15 percent share of the East African Crude Oil Pipeline, Uganda is opting to borrow Ush481 billion ($130 million) from the domestic market to financially back its… Read more »
Total, China's CNOOC to Extract Uganda's Lake Albert Oil Reserves
Environmental groups have criticised the plan by French and Chinese oil companies to develop oil resources under Lake Albert in Uganda and build a pipeline to bring the oil though Tanzania.
France's Total and China's CNOOC signed a U.S.$10 billion deal on February1, 2022. Environmental groups are warning that the pipeline will be devastating for wildlife and people along its route. The deal aims to exploit huge crude oil reserves under Lake Albert, on the border between Uganda and the Democratic Republic of Congo.
"This milestone puts us on the path to first oil in 2025," Uganda's Minister of Energy and Mineral Development Ruth Nankabirwa Ssentamu said in a speech ahead of the signing. The Lake Albert development project will involve creating oil fields, processing facilities and a pipeline network in Uganda, plus a 1,400-kilometre heated pipeline through Tanzania to export the oil to the port of Tanga on the Indian Ocean.
Uganda discovered the reserves in 2006, but production has been delayed by disagreements between the government and oil companies over tax and development strategies, and a lack of infrastructure. Government geologists estimate that 1.4 billion barrels are recoverable of the 6.5 billion barrels in the ground.
InFocus
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The East African Crude Oil Pipeline, set to launch in April 2021 after Tanzanian President John Magufuli's death, has been hugely controversial - from the residents along the 1,443 ... Read more »
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The governments of Tanzania, Uganda and international oil firms, French Total E&P, and China's Cnooc have signed off four key agreements for commercialisation of the proposed East ... Read more »
